Amtrak proposed to spend $50 million to begin preliminary engineering and design on two new rail tunnels, and planned to seek additional funds from New Jersey, New York State, New York City and the Metropolitan Transportation Authority and the Port Authority.

Amtrak said it also would allow for 13 additional NJ Transit trains per hour and eight additional Amtrak trains, increasing NJ Transit commuter rail capacity into New York by 65 percent.

The company estimates the entire project could be completed in 2020 at $13.5 billion.

Gov. Christie sounded open-minded about the new proposal.

“We’ll see if it’s good for the taxpayers of this state. So well see. But as we sit here today, now, if they ask me for a check today, the answer is no,” Christie told CBS 2’s John Metaxas.

Lautenberg said New Jersey is facing a transportation crisis and said something needs to be done about it immediately.

“When the ARC Tunnel was cancelled, it was clear to me that we couldn’t just throw up our hands and wait years to find another solution,” he said.

“We say this new Trans-Hudson tunnel is right for New Jersey and right for the region and its future,” Sen. Robert Menendez said.

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)